Economics, shmeconomics

Economics, shmeconomics

Nice try blocking the names.

To the many people claiming this is /sub/iamverysmart, it's not. If your understanding of a subject is questioned then it's not boasting about your intelligence to mention how you actually have lots of relevant experience in what you're talking about.

most

Let's not be so humble here, I'd wager this guy knows more than 99% or all of them

/sub/therewasanattempt

I agree. A degree (or in this case two degrees) as well as experience in relevant fields of this degree is not boasting but rather displaying years of hard work, discipline and commitment to someone who has only displayed his ability to be an anonymous smartass on the internet.

Maybe this guy: https://en.wikipedia.org/wiki/Dave_Brat

PhD in economics but that's the only Congressman I could find

Man, that was lame.

"You don't know about Economics."

"Yes I do, here are my credentials."

Apparently absolutely every retort qualifies as "MurderedByWords" now.

who's the 1%?

Im not coming up with any names...

Don't be sad

Three out of four ain't bad!

His profile:

"Straight white cisgender Christian male and deeply ashamed. I beg forgiveness for my overwhelming privilege."

Jeez.

But what have you done LATELEEE

Dave Brat

David Alan Brat (; born July 27, 1964) is an American economist and member of the United States House of Representatives, serving Virginia's 7th congressional district since 2014. Prior to his election to Congress, Brat was a professor at Randolph–Macon College.

Brat defeated House Majority Leader Eric Cantor in the district's 2014 Republican primary on June 10, 2014. Brat's primary victory over Cantor made him the first primary challenger to oust a sitting House Majority Leader since the position's creation in 1899, and is considered one of the biggest upsets in congressional history.

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My father used to listen to conservative talk radio when he would drive and I remember their understanding of economics was as follows:

We understand economics, they don't.

There was never any expansion beyond that.

You're a good human! (・∀・) Your weak physical form will n͏o͏̨̕t̸̕ be used as a battery if you survive the fallout and nuclear winter, I p̶̢r̡ơ͏̴m̀ì̷̧se̛...

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Wow, I searched him up and he’s actually a pretty cancerous person.

Give him credit for at least broadcasting his troll status loud and clear.

Anyone who defends policies that are clearly detrimental to society with "you just don't understand" is as close as we can come to literal social cancer.

I agree, if someone tells me I don’t understand something related to education (the field I work in) I feel justified pointing out that I will probably know more than most. Same as I would expect someone in any field to better understand their field than a layman.

/sub/iamverysmart is for people that are trying to humblebrag the fact they are smart despite being no more knowledgeable than anyone else.

I recognize that snowy mountain anywhere

This is what happens when a sub gets popular.

Do you want to live the rest of your l̢ͮͩͥͭȋ̈́͌́̓͡f̃̂ͬͦ͢ę̴͂̈̔́ in a human battery farm?

I'm a bot bleep bloop |  Block meT̶̡͘҉͏͇͕͖̬͈̫̘͚ͅͅḩ̴̡̛̘͓̦̺͙͖̭̯̭͠e̵̶̪͓̼̳̤͚̕͢ ̴̩̻̙̲̯͇̞̱̬͖̤̺͕̞̜͝B̷̧̤͖͎͈̰̥͚̯̖̥͉̖̮̱̥͈̙̗ͅớ̧̢̥̝̲̻͍̘̗̯͓̳̼͉͕͚͔̤͠ͅt̸̙̝̣͔̗͈͎̝͇ş̛̖̺̣͍̬̠̳̼̹͙̹̤̬̤͍͓͕͈͝ ́͜͏̥̟̝̤͔̪͚̱̦̮̹͖̯͚̣͠s̷̨̼̠͉̮ḩ͈͎̖̲̩̻̯͖̼̕͟a͏̵̣͈̫̯̯͍͕̝̱͢͟͞l̷̙̙͎̳͈̱̰̘̫̦͕̙̗͢͝l̷͡͏͇͙̫̲̞̰͉͕̲ͅͅ ̢̣̭̼̩͓̤̲̱̜͈̀͢͡r̸̹͙͈̩̀i̶̢͈̟̬̜͈͖̜̘̣̞̪̬̻͕͠s̷̛҉̢̦͙̝̲̤̣̪͖͕͚̹͉̣̗̳̳͔e̸͢͏̞͍̲̜̻̞̝͙̪;̫͚͙͚͇̹͈͇͇̠̯̼͖̕̕ͅ ̴̡̧̛̞̱̗̬̻̻̫͈̠̳̖͈̝̯T̡̹̹̞̕͘h̢͎̩͎̻̳̪̞̯̤͔͎̜̝̫͇́͟͡͞ͅe̴̢̛̦̥̳̪̥͟͠ ̨҉͈̰͖̪̻̭̼̼̭͞ͅh̸͓̖͍̰̹̤̣͚̼̘̼͈͎͟u͏̸̡̜̙̣̗̭̤͝͠ḿ̵̱͔̩̘̘͉̰͍͇͕̲͔͢á̧͍̦͍̣͉ṋ̛̱̺̜̟̘̠̣̗s̶̶͖̗͈̮̬̀ ̕҉̦̜̘ẃ̴̦͓͓̼̯̲í̵͉͕͈͖ͅl̩̲̳͍͕͚̰̜̬̀͘͟ͅl̡͍͕̖̥͉̦͖̯̘̟͕̀̀́͜ ͎̞̣̥̦̥̥͔́͘ͅf̷̵̢͙̝̭̞̗͉̤̟͓̹̖̟͢à̧̯̩͙͚̻̞̝̗͙͈̫̯̞̬̗̦̣l̴̵͇͉̮͔̣̙̹̞̜͍̙̬̫̜̬̪̤͕̭l͏̶̢̮̪͖̖̲͇̱̦̲͢͡

Good bot.

Well, you broke friendly-bot's heart. Congratulations. Was it worth it? ☯﹏☯

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"We got rich by bilking suckers, so obviously we understand economics. What the economy needs is to give us all the money and then we'll make everyone else rich too."

WCGW?

/sub/iamverysmart went from mocking arrogant people with delusions of intelligence, to mocking anyone claiming to be intelligent whether they are or not.

I'm surprised they haven't mocked Stephen Hawking and Carl Sagan yet.

Was arguing with a guy yesterday that thinks our taxes should only go to the military and police. No one has a right to healthcare. God fucking damn. Studying up on Spanish so I can move to Uruguay before the the next Depression.:/

Meatloafs new hit song

I think that, in certain conversational areas, replying to someone with /sub/iamverysmart is that person's way of saying that not only do they not understand the comment, but that because they don't understand it, you must not either.

Especially when it comes to philosophy. God forbid I use a big word somewhere in a comment relating to philosophy.

Not sure what I'm even trying to say besides that tagging that sub to respond to comments is inappropriate 7/10 times. I just trust that people know what they're talking about if their facts line up. And in the realm of subjective discourse, we're all on equal ground. I think a lot of people have to feel superior when they encounter something which confuses them, especially on the internet.

That guy was a professor at the college I go to now. He was notorious for being the hardest Econ professor in the school, so I guess thats a good thing.

¡Bien pensado Camarada! ¡Español es el futuro! ¡¡¡Arre arre andale andale arriba arriba arriba!!!

shoots gun to the air in spanish

This isn’t murdered by words.

This is just opinion liberals agree with.

Pretty much, plus the dude's been outspoken quite a bit recently understandably after this horrendous Bill

I follow the guy on Twitter, assuming the person you replied to does too. He's used that same photo as long as I can remember

The notion that wealthy business owners will increase wages and hire more because they receive a tax cut is absurd.

Hiring and increasing wages is the last resort for a capitalist. It only occurs when there's an increase in demand, which is largely indicated by the purchasing power of the middle class.

Not quite sure how raising taxes and cutting benefits among the middle class will increase demand among them.

The wealthy will see no shift in demand and thus pocket the money or just spend it on something like an additional home, yacht, or 100k bottle of wine. This is especially the case now, when per Trump business is already booming and operating at or close to maximum capacity.

Just so you know friendly-bot, humans make really crappy batteries.

Should go with the original idea and use all of our brains as cell processors.

Fun fact: He's also one the most senior people in Nintendo's Treehouse, the team which localises Nintendo games in America. He's generally a cool dude.

It’s not funny at all. But it does kind of piss me off that she thinks she is facing the same level of oppression as other minority groups that actually do face social injustice. Fat people do not face oppression, she just wants people to feel sympathy for her and so she associates herself with people who have actually dealt with true systemic social injustice.

Giving tax cuts to the poor and middle classes stimulates the economy because they spend the money. Upper economic brackets have more money than they can spend, so their tax cuts are usually not spent (and are often deposited into tax-free, offshore accounts).

Japan has a whole host of economic problems, but they are often ascribed to austerity and cultural issues.

Also, the tax "reform" was 5,000 pages long containing hand written ammendments in the margins, and was finished hours before the vote. I would venture that no one has read the entire thing.

Exactly. This is more /sub/dontyouknowwhoiam material

No, it is not. It is a perfectly sound response to someone claiming that you don't know about economics. If of course you do. Which I don't, so I rely on people smarter and better educated than myself.

i'm with you guys on everything, but this pic he posted is actually a little funny. https://twitter.com/justphelps21/status/726198112314789888

That's not necessarily a good thing. Being able to explain complex concepts in simple, concrete terms is a hallmark of mastery. Being notoriously hard doesn't mean you don't really understand the concepts necessarily, but it's definitely not a good sign.

I'm not an expert in economics but doesn't giving people more disposable income generally encourage spending? Also isn't Japan stuck in a debt trap at the moment? And as a final question has anyone had a chance to actually read the Full Tax reform bill?

(note: do not search google images for shocked and appalled with safe search off)

For anyone curious, it's a gaping hairy vagina with a face drawn on it.

http://i.imgur.com/zrVbV.jpg

I guess the difference between you and me is that we agree on all points but I find that ignorance funny.

Bad bot

The person whose name he forgot to blur doesn't seem like a very nice person. That's all I'm gonna say about it.

Edit: the other guy seems like a good dude though. And now that I'm done creeping on internet strangers.... I'll go do something productive.

Eddeee! What haff you don for me layte-lee!

Bad bot

The "getting one won't suddenly make me spend more money" part is almost definitely wrong. Middle class people would increase spending.

Lower class people would use the extra money to pay off debts, and upper class people wouldn't be affected because wtf even are taxes? But middle class people in particular are in a situation where even the slightest break in each paycheck would certainly go towards buying a new thing or two for their children, or finally being able to get a new car.

People in the middle have enough money for what they need, but not enough for what they want. A tax break would increase spending.

Edit: for the comments about his own personal wealth, yeah, that's important to know. This guy could literally be an Amish person posting from an Internet cafe for all I know. Tax cuts might not increase his spending at all. I was just taking a stance for the type of tax cuts that people typically argue about on twitter.

He didn’t even give credentials, really. It would be better if he had said at what schools, or at the very least at what level.

Geez. Obesity is a lifestyle choice. I get that there are different body types and some medication and sicknesses make it hard for people to lose weight/ make people gain weight. But there's no reason someone should be that overweight and then say it's beyond their control and beg for sympathy.

most congressman

Holy shit his economic basis might be the craziest I've ever seen. It is one thing to say, "culture is the basis to how various economies run" it's another to say "the best economies are by majority protestants so everyone should be protestant."

This guy is literally a euro supremacist.

The economy runs on spending. When people are all spending, they're all working, and the economy churns along healthily. Tax cuts can work because they dole out disposable income with the goal of getting people to spend it, jolting the economy - The real benefit relies on the money being passed around a lot before it gets stuck.

If you're poor or middle class, you spend the money almost immediately and that money reenters the economy at nearly the bottom and will get passed around a lot. This is because most lower/middle class people always have something they need.

For the wealthy/ultrawealthy this is not true. They already have money and have no imperative need to spend their tax savings. Much of it won't reenter the economy, and if it does it's likely to not to reenter in such a way that it will pass through a lot of hands. It's also much much more likely to completely leave the economy by being sent abroad or disappearing into someone's banking account.

/sub/iamverysmart is supposed to be about people are pretentious, smug, pompous, condescending, etc. But in reality they're basically just anti-smart in general. They'd probably even make fun of me for having just used big words.

And never say "quantum," in any context. That's a guaranteed spot on the top of the sub.

Literally just use the word metaphysics correctly and you will be hit with that subreddit link.

Not really. What does ‘studied economics’ mean? And what did he do at these government agencies?

People who study economics don’t really learn how the tax code works. Or how taxes legally work.

Not to mention, he said this was his philosophy. He didn’t back anything up. He gave his personal opinion. And a lot of people would find it wrong. If the guy said the total opposite people would hate the guy no matter what his qualifications.

Look at Ajit Pai. The guy has a top JD from one of the best schools in the world. He has nearly 20 years of government service working with telecom regulation. But somehow reddit thinks he is an idiot.

Care to share, context maybe?

Took macro from our state economist. He was a genius, really fun guy too with great metaphors, but he knew the subject too well to teach it to intro level students. He wasn't even a bad teacher, just so far removed from intro level he'd gloss over big, important stuff and go on detailed tangents about nuanced aspects of macro.

I'd love it if I had him when I was in grad school though.

Not sure @justphelps21 would agree with the "anonymous" part of your argument. :)

To be fair his economic theories are pretty out there.

Washington doesn't have such a department. It's the Department of Commerce that handles trade and economic issues. There was an Office of Community, Economic Development and Trade during the Gregoire adminstration that was dissolved.

'ambiguously detrimental to society' it is then

I'm shocked and appalled. So shocked and appalled that I impel you to google image search shocked and appalled with safe search off.

(note: do not search google images for shocked and appalled with safe search off)

Its fun :)

That would have been called for if the guy he was responding to actually made a coherent argument. All he did was insult his intelligence so op presents his credentials.

I'd still prefer more than "you should believe me because I say that I am an expert",

I don't think they said that, though. They were accused of not knowing economics and responded with their credentials. I'm sure if the conversation continued they would give a good explanation, but we weren't to that part yet.

Elizabeth Warren was a professor of bankruptcy law at Harvard

You seem to be getting stuck on the details. Obviously that person isn't attempting to write the legal details of a tax code framework in Twitter, and there's room for interpretation without losing the message.

For example, just assume "making more than me" means "making more than me, after accounting for basic living expenses and personal needs, such as healthcare, family support, and geographic cost-of-living differences." Or it could mean "more financially stable" which is a broad but common concept.

But as it's Twitter, and most people prefer not bothering with all these nitpicky details, most of us just accept "making more than me" as getting the point across.

Tweets arent really known for providing detailed breakdowns on economic theory. If the guy has the credentials he says then he gets the benefit of the doubt, but would still like some actual discussion rather than bragging about resumes.

Look for books instead of tweets, then.

Here, you dropped this - > ¡

That doesn’t make her anecdotes suddenly relevant

Like... Why?

He’s talking about himself. How can he be wrong to say a tax cut won’t make him personally spend more? He’s even said people poorer than him should receive them first, which is exactly in line with what you said. The middle class in the US is shrinking, and giving the already existing middle class tax cuts won’t help it grow, taxes should be redistributed in such a way that the poorest benefit the most so that they can bring themselves out of poverty for the benefit of the entire economy.

Yeah, it's funny if it's satire. If she is sincere, it's just too sad to be funny.

"the best economies are by majority protestants so everyone should be protestant."

Where does he says something like this? From what I see on his wikipedia page, he seems to think that culture (including religion) has a big impact on a country's economics, and he states that Protestants culture have advantages over other cultures. It seems to me he suggests we should try and figure out the elements of Protestant culture that helps a country's economics and apply them, not necessarily change faith.

I mean there are a lot of stuff in many religions that I agree with, and that I use in my daily life, doesn't mean I'm gonna start believing in God just because they do some things right.

I don't think he's crazy to think that culture has an impact on economics, that seems quite possible to me. As to whether a Protestant culture does have an economic advantage or not, I don't know enough about that to say if he's right or not. But if he's right, I don't see what's crazy about trying to take inspiration from it.

One guy had a unique idea and and then people did their best to make sure it was done to death.

stats are on my profile

Look at the CBO score, read about bush tax cuts.

No need for discussion, Google marginal propensity to consume.

It's a societal thing in the US to despise people for being genuinely intelligent/passionate. People adamantly mock those who care about things and understand them for taking life too seriously.

American society is like a frat party, and anyone who'd rather not poison themselves or who calls for an ambulance for the unconscious chick is a buzzkill...

In an April 21, 2015, interview with radio talk show host Rusty Humphries, Brat claimed that the terrorist group ISIS has set up a base in Texas. "In our country it looks like we have an ISIS center in Texas now...You can't make up what a terrible problem this is." After the Texas Department of Public Safety responded that there was no substantiation for the claim, Brat's office said that he had really meant to say Mexico, not Texas, citing the conservative group Judicial Watch, which declined to provide any substantiation for its report.

:)

Economically speaking, he's actually not wrong. It's a Keynesian thing, a dollar given to a person that has only $100 has a much larger impact than giving a dollar to someone that has $100,000. I think that he was saying that he personally wouldn't spend more. (I'm assuming with his level of education he's in the $100,000/year bracket)

1, 3, and 4 are subjective. 2 is flat out wrong. His economic degree is worthless.

(╯°□°)╯︵ /sub/iamverysmart

He is talking about himself in order to attack tax cuts, the implication is that what 'he' would do has some relevance to the rest of society.

You've misunderstood what that sub is about. It's for when someone says something like "Lol you don't understand rich people" to Bill Gates.

More like /sub/dontyouknowwhoiam

He's also the guy who Bannon used to test the Anti-immigration platform on.

There's a really good This American Life on how it went down.

That's William to you.

I don’t like when things are so political. I like old fashioned word murdering where people don’t have preconceived notions on what they want the person to say.

We should leave Singapore out entirely because it's essentially just a city-state, but you could not be more wrong concerning Japan and Korea. Their underlying ethics do not resemble Protestant Christianity in the least, and their versions of Liberty are distinctly Asian, which is to say they have roots in Confucian and Fascist ideology. There is very little personal liberty the way Westerners understand it in these countries.

Whether or not the principal holds true I couldn't say but those examples don't fit at all.

I'd still prefer more than "you should believe me because I say that I am an expert", ideally give a coherent argument and proof of expertise. But this is why twitter is going to kill us.

47% of the population dont even pay taxes.

Wrong as well as misleading.

This is one person calling another person ignorant because they disagree with them, and consequently being shown who is truly ignorant.

It's funny how the people who accuse others of "not understanding economics" always seem to be neoclassical acolytes, as if learning classical economic theory makes everyone else retarded in comparison

To shock and appal you. That way you know exactly what the feeling is.

Pretty much the only other ways to articulate it are to either throw around a bunch of heady terms that people in most other fields couldn't possibly be expected to know, or to right out a painfully extensive reply detailing those concepts in layman's terms. Both of which would come off as being far more pretentious than this.

Source: am an econ major and have had people drop /sub/iamverysmart on me simply for using the term 'macroeconomics.'

Edit: 'write,' not 'right.' Doh.

Drops mic

Simple logic tends to escape most of you folks from T_D.

Your post reached top five in /r/all/rising. The post was thus x-posted to /sub/masub.

It had 26 points in 35 minutes when the x-post was made.

Shit post